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Home / Metal News / [Cu] CBI Morning Review - 2009/7/24 Copper Market

[Cu] CBI Morning Review - 2009/7/24 Copper Market

iconJul 24, 2009 00:00
Source:上海有色金属网

SHANGHAI, July 24 (CBI China) -- LME copper price moved up positively affected by softened US dollar, and soared to USD 5,565/mt. However, LME copper price fell from the high level due to profit-takings of long positions. Finally, declines in LME copper price slowed down given better than expected existing home sales data from the US. LME three-month contract copper price closed at USD 5,505/mt, down USD 40/mt. LME copper inventories increased by 3,225mt, bringing total inventories to 271,725mt. Copper price fell back after rapid rise, but any downward room will be limited due to the existing speculative funds in the market.

 

Copyright © 2009, CBI (Shanghai) Co., Ltd. All Rights Reserved.

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